Miles Capital Inc. Has $630,000 Position in Ameriprise Financial, Inc. (NYSE:AMP)

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Miles Capital Inc. lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,782 shares of the financial services provider’s stock after selling 103 shares during the quarter. Miles Capital Inc.’s holdings in Ameriprise Financial were worth $630,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of AMP. Boston Partners grew its holdings in shares of Ameriprise Financial by 837.0% in the 3rd quarter. Boston Partners now owns 1,373,068 shares of the financial services provider’s stock valued at $202,004,000 after buying an additional 1,226,534 shares during the period. Nuveen Asset Management LLC increased its position in shares of Ameriprise Financial by 1,065.4% during the second quarter. Nuveen Asset Management LLC now owns 939,209 shares of the financial services provider’s stock worth $136,336,000 after acquiring an additional 858,619 shares in the last quarter. Waddell & Reed Financial Inc. acquired a new stake in shares of Ameriprise Financial during the second quarter worth $32,661,000. UBS Asset Management Americas Inc. raised its holdings in shares of Ameriprise Financial by 9.3% during the second quarter. UBS Asset Management Americas Inc. now owns 1,926,618 shares of the financial services provider’s stock worth $279,668,000 after acquiring an additional 164,258 shares during the period. Finally, Schroder Investment Management Group lifted its position in Ameriprise Financial by 51.6% in the 2nd quarter. Schroder Investment Management Group now owns 319,943 shares of the financial services provider’s stock valued at $46,443,000 after acquiring an additional 108,892 shares in the last quarter. 81.32% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Joseph Edward Sweeney sold 8,100 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $167.50, for a total transaction of $1,356,750.00. Following the completion of the transaction, the insider now directly owns 19,669 shares of the company’s stock, valued at $3,294,557.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Karen Wilson Thissen sold 303 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $158.67, for a total value of $48,077.01. Following the completion of the transaction, the vice president now owns 14,599 shares of the company’s stock, valued at $2,316,423.33. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,880 shares of company stock valued at $2,403,127. 1.90% of the stock is owned by insiders.

AMP has been the subject of a number of research analyst reports. Morgan Stanley lowered shares of Ameriprise Financial from an “overweight” rating to an “equal weight” rating and set a $175.00 target price for the company. in a research note on Tuesday, January 7th. They noted that the move was a valuation call. Zacks Investment Research downgraded Ameriprise Financial from a “hold” rating to a “sell” rating and set a $149.00 price target on the stock. in a research note on Wednesday, October 16th. ValuEngine downgraded Ameriprise Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 24th. Finally, Royal Bank of Canada upgraded Ameriprise Financial from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $149.00 to $190.00 in a report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $179.25.

Shares of AMP traded down $1.64 during mid-day trading on Tuesday, hitting $170.79. 2,937 shares of the company’s stock were exchanged, compared to its average volume of 571,666. The company has a market cap of $22.57 billion, a PE ratio of 12.04 and a beta of 1.86. Ameriprise Financial, Inc. has a 52 week low of $117.09 and a 52 week high of $173.75. The company has a 50-day simple moving average of $167.34 and a 200 day simple moving average of $149.93. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.83 and a quick ratio of 0.83.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $4.24 EPS for the quarter, topping the Zacks’ consensus estimate of $4.09 by $0.15. Ameriprise Financial had a net margin of 15.31% and a return on equity of 37.50%. The business had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter in the previous year, the firm posted $3.74 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts anticipate that Ameriprise Financial, Inc. will post 16.25 earnings per share for the current year.

About Ameriprise Financial

Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.

Further Reading: How Do You Calculate Return on Equity (ROE)?

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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